VW says almost 9,300 staff agree to buyouts

FRANKFURT - Volkswagen said close to 9,300 employees have agreed to an early retirement plan, helping the automaker bring down costs.

"We are rapidly approaching our target of 9,300 contracts signed. Employees who wish to take partial early retirement must make their decision by July 31," VW board member for human resources, Karlheinz Blessing, said in a statement on Tuesday.

The offer is aimed mainly at people born between 1955 and 1960.

VW has guaranteed that there will be no forced layoffs as part of its "Transform 2025+" plan to cut the workforce and improve productivity by 25 percent until 2025.